- Home sales and new listings in Metro Vancouver surged in September 2020 to record levels. Sales were up 56.2% from September 2019 and listings were up 31.6%.
- The increased activity is attributed to lower interest rates and changing housing needs during the COVID-19 pandemic.
- While new listings are increasing, strong demand is keeping overall housing supply down, creating upward pressure on home prices which have been rising since the spring.
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Rebgv Stats Package September 2020
1. News Release
FOR IMMEDIATE RELEASE:
Metro Vancouver home sales and listings surge in September
VANCOUVER, BC – October 2, 2020 – Home sale and new listing activity reached record
levels in Metro Vancouver* in September.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the
region totalled 3,643 in September 2020, a 56.2 per cent increase from the 2,333 sales recorded
in September 2019, and a 19.6 per cent increase from the 3,047 homes sold in August 2020.
Last month’s sales were 44.8 per cent above the 10-year September sales average and is the
highest total on record for the month.
“We've seen robust home sale and listing activity across Metro Vancouver throughout the
summer months," Colette Gerber, REBGV Chair said. "This increased activity can be attributed,
in part, to lower interest rates and changing housing needs during the COVID-19 pandemic."
There were 6,402 detached, attached and apartment properties newly listed for sale on the
Multiple Listing Service® (MLS®) in Metro Vancouver in September 2020. This represents a
31.6 per cent increase compared to the 4,866 homes listed in September 2019 and a 10.1 per cent
increase compared to August 2020 when 5,813 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is
13,096, a 2.6 per cent decrease compared to September 2019 (13,439) and a 2.3 per cent increase
compared to August 2020 (12,803).
"While the pace of new MLS® listings entering the market is increasing, the heightened demand
from home buyers is keeping overall supply levels down," Gerber said. "This is creating upward
pressure on home prices, which have been edging up since the spring."
For all property types, the sales-to-active listings ratio for September 2020 is 27.8 per cent. By
property type, the ratio is 28.3 per cent for detached homes, 36.1 per cent for townhomes, and
24.8 per cent for apartments.
Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12
per cent for a sustained period, while home prices often experience upward pressure when it
surpasses 20 per cent over several months.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro
Vancouver is currently $1,041,300. This represents a 5.8 per cent increase over September 2019,
and a 0.3 per cent increase compared to August 2020.
2. Sales of detached homes in September 2020 reached 1,317, a 76.8 per cent increase from the 745
detached sales recorded in September 2019. The benchmark price for detached properties is
$1,507,500. This represents a 7.8 per cent increase from September 2019 and a 1.1 per cent
increase compared to August 2020.
Sales of apartment homes reached 1,596 in September 2020, a 36.9 per cent increase compared
to the 1,166 sales in September 2019. The benchmark price of an apartment property is
$683,500. This represents a 4.5 per cent increase from September 2019 and a 0.3 per cent
decrease compared to August 2020.
Attached home sales in September 2020 totalled 730, a 73 per cent increase compared to the 422
sales in September 2019. The benchmark price of an attached unit is $809,900. This represents a
5.2 per cent increase from September 2019 and a 0.4 per cent increase compared to August 2020.
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*Editor’s Note: Areas covered by the Real Estate Board of Greater Vancouver include: Burnaby, Coquitlam, Maple
Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta,
Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.
The real estate industry is a key economic driver in British Columbia. In 2019, 25,351 homes changed ownership in
the Board’s area, generating $1.8 billion in economic spin-off activity and an estimated 12,910 jobs. The total dollar
value of residential sales transacted through the MLS® system in Greater Vancouver totalled $25.3 billion in 2019.
The Real Estate Board of Greater Vancouver is an association representing more than 14,000 REALTORS® and
their companies. The Board provides a variety of member services, including the Multiple Listing Service®. For
more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit
www.rebgv.org.
For more information please contact:
Mark Moldowan
Senior Writer & Communication Strategist
Real Estate Board of Greater Vancouver
604.730.3153
mmoldowan@rebgv.org
3. Property Type Area
Benchmark
Price
Price
Index
1 Month
Change %
3 Month
Change %
6 Month
Change %
1 Year
Change %
3 Year
Change %
5 Year
Change %
10 Year
Change %
Residential / Composite Lower Mainland $979,800 274.5 0.4% 1.7% 1.8% 5.8% 3.6% 50.9% 87.9%
Greater Vancouver $1,041,300 273.2 0.3% 1.6% 1.4% 5.8% 0.6% 42.5% 82.9%
Bowen Island $1,077,900 233.7 1.0% 10.8% 16.6% 10.5% 12.3% 67.5% 73.6%
Burnaby East $986,800 273.7 0.6% 1.8% 1.4% 7.2% 1.4% 42.2% 85.6%
Burnaby North $894,200 270.0 0.2% 1.0% 0.6% 5.2% 0.9% 45.5% 84.7%
Burnaby South $967,600 273.3 0.4% -0.8% 0.2% 2.8% -2.9% 41.8% 83.7%
Coquitlam $941,900 279.4 0.6% 1.3% 1.9% 6.2% 4.0% 53.2% 99.1%
Ladner $852,900 240.1 0.2% 1.5% 2.8% 7.1% -4.2% 23.8% 63.6%
Maple Ridge $789,200 251.3 0.4% 1.1% 3.0% 5.9% 8.2% 69.0% 89.7%
New Westminster $670,700 295.1 0.5% 0.7% 1.4% 4.7% 6.4% 63.6% 95.9%
North Vancouver $1,109,300 249.3 1.0% 3.4% 3.3% 9.5% 1.1% 41.5% 78.5%
Pitt Meadows $763,600 277.6 0.1% 0.2% 2.0% 4.4% 8.4% 71.5% 99.9%
Port Coquitlam $788,800 270.0 1.6% 2.8% 3.0% 8.9% 6.9% 61.8% 91.8%
Port Moody $921,500 254.7 0.6% -1.0% -1.2% 2.4% 3.0% 50.8% 87.1%
Richmond $945,700 282.3 0.1% 1.7% 1.1% 4.8% -0.7% 41.2% 76.7%
Squamish $819,400 260.7 4.7% 6.1% 5.6% 5.5% 11.9% 66.3% 114.4%
Sunshine Coast $656,500 230.0 1.9% 8.7% 14.7% 9.4% 12.5% 70.6% 75.3%
Tsawwassen $972,800 252.2 1.2% 4.9% 6.1% 9.6% -1.8% 29.2% 74.4%
Vancouver East $1,105,800 328.6 -0.3% 2.1% 1.0% 7.5% -0.2% 41.2% 100.1%
Vancouver West $1,271,900 265.6 -1.5% 0.0% -1.5% 4.0% -6.4% 28.1% 71.1%
West Vancouver $2,213,400 243.7 1.9% 4.7% 5.0% 6.7% -13.3% 11.3% 76.0%
Whistler $972,300 226.6 5.2% 6.4% 6.4% 6.1% 19.6% 72.3% 92.2%
Single Family Detached Lower Mainland $1,300,300 277.3 1.2% 3.4% 4.6% 8.2% -0.9% 39.3% 90.2%
Greater Vancouver $1,507,500 278.5 1.1% 3.0% 4.6% 7.8% -5.6% 27.3% 83.1%
Bowen Island $1,077,900 233.7 1.0% 10.8% 16.5% 10.5% 12.3% 67.5% 73.6%
Burnaby East $1,277,200 285.6 1.6% 3.8% 4.2% 10.1% 0.2% 34.8% 96.2%
Burnaby North $1,501,200 290.3 1.6% 0.9% 3.3% 11.6% -6.0% 23.9% 88.4%
Burnaby South $1,577,600 302.0 1.4% 1.2% 5.7% 8.2% -8.7% 27.5% 99.9%
Coquitlam $1,240,900 275.4 0.9% 2.5% 4.0% 7.2% -3.1% 37.4% 93.9%
Ladner $1,013,200 242.5 0.8% 0.6% 3.5% 11.3% -4.9% 19.6% 68.8%
Maple Ridge $868,000 247.3 1.3% 1.6% 4.2% 7.4% 6.8% 65.2% 91.6%
New Westminster $1,115,200 278.2 1.5% 2.5% 3.3% 8.7% -2.0% 33.9% 86.5%
North Vancouver $1,647,300 259.4 2.0% 5.4% 6.2% 12.6% -2.8% 33.0% 85.8%
Pitt Meadows $959,900 270.5 1.8% 3.7% 7.0% 9.7% 7.6% 63.2% 98.9%
Port Coquitlam $1,017,900 271.4 2.5% 4.9% 6.0% 12.0% 2.2% 45.9% 91.7%
Port Moody $1,484,800 274.2 1.2% 1.5% 4.6% 5.5% -0.8% 40.8% 95.3%
Richmond $1,564,600 303.1 1.2% 3.5% 2.7% 5.9% -11.0% 24.2% 76.5%
Squamish $1,020,400 268.9 3.2% 4.4% 5.0% 4.6% 5.6% 61.4% 107.8%
Sunshine Coast $651,100 228.1 1.9% 8.6% 14.6% 9.5% 12.2% 70.1% 74.0%
Tsawwassen $1,148,800 256.0 0.9% 4.9% 6.2% 11.5% -2.8% 26.9% 78.5%
Vancouver East $1,499,100 330.2 -0.2% 2.7% 3.5% 9.2% -3.6% 24.9% 108.2%
Vancouver West $3,084,600 312.0 0.0% 0.3% 3.7% 4.7% -15.6% 10.2% 72.0%
West Vancouver $2,687,400 253.7 0.6% 3.6% 5.3% 6.6% -14.3% 8.3% 81.1%
Whistler $1,767,700 245.9 4.9% 4.2% 5.9% 7.5% 10.6% 60.4% 89.9%
HOW TO READ THE TABLE:
• Benchmark Price: Estimated sale price of a benchmark property. Benchmarks represent a typical property within each market.
• Price Index: Index numbers estimate the percentage change in price on typical and constant quality properties over time. All figures are based on past sales.
• x Month/Year Change %: Percentage change of index over a period of x month(s)/year(s) *
In January 2005, the indexes are set to 100.
Townhome properties are similar to Attached properties, a category that was used in the previous MLSLink HPI, but do not included duplexes.
The above info is deemed reliable, but is not guaranteed. All dollar amounts in CDN.
September 2020*
* MLS®, Multiple Listing Service®, and all related graphics are trademarks of The Canadian Real Estate Association 1 of 18
4. Property Type Area
Benchmark
Price
Price
Index
1 Month
Change %
3 Month
Change %
6 Month
Change %
1 Year
Change %
3 Year
Change %
5 Year
Change %
10 Year
Change %
September 2020*
Townhouse Lower Mainland $701,400 254.4 0.5% 1.9% 2.8% 4.6% 6.2% 60.0% 78.5%
Greater Vancouver $809,900 259.8 0.4% 2.4% 2.5% 5.2% 4.1% 51.8% 77.2%
Burnaby East $692,200 255.7 -2.3% 2.9% 5.1% 7.2% 8.8% 55.4% 76.6%
Burnaby North $731,900 273.2 -0.1% -0.4% 0.5% 0.3% 4.3% 52.5% 78.1%
Burnaby South $784,100 270.1 -2.3% -0.8% 2.0% 3.6% 4.9% 51.2% 75.8%
Coquitlam $696,300 255.5 1.1% 0.4% 2.3% 6.9% 7.9% 55.4% 83.3%
Ladner $639,000 229.2 -2.3% 1.3% -0.9% 0.4% -7.3% 27.3% 47.9%
Maple Ridge $552,900 256.7 -0.1% 2.7% 3.3% 5.8% 7.5% 72.2% 89.6%
New Westminster $758,200 278.2 -0.9% 1.3% 3.2% 6.1% 7.2% 56.4% 81.7%
North Vancouver $1,009,100 245.2 -0.6% 2.0% 4.7% 7.7% 4.6% 47.3% 77.6%
Pitt Meadows $623,100 269.6 -0.4% -0.6% 2.1% 4.7% 8.8% 72.7% 96.1%
Port Coquitlam $661,200 250.3 0.7% 2.1% 2.7% 6.1% 4.1% 61.2% 76.8%
Port Moody $649,800 219.6 -0.4% -0.2% 1.5% 2.4% 7.3% 40.2% 60.1%
Richmond $805,400 264.5 -0.2% 1.8% 2.0% 4.6% 0.8% 43.2% 69.9%
Squamish $758,500 249.4 5.8% 11.3% 6.0% 5.3% 17.0% 71.4% 111.7%
Tsawwassen $615,000 241.1 -2.1% 1.4% 0.0% 0.3% -6.8% 36.4% 53.0%
Vancouver East $926,000 294.5 2.5% 4.2% 2.0% 8.8% 1.2% 51.4% 87.5%
Vancouver West $1,164,300 272.2 0.1% 4.0% 2.8% 6.0% -2.1% 45.4% 82.3%
Whistler $980,900 236.5 6.3% 9.0% 3.8% 3.5% 18.7% 79.6% 104.4%
Apartment Lower Mainland $656,600 281.3 -0.2% 0.4% -0.7% 4.4% 8.4% 66.5% 90.1%
Greater Vancouver $683,500 273.3 -0.3% 0.4% -0.9% 4.5% 5.1% 58.9% 84.7%
Burnaby East $731,700 280.7 1.5% -1.5% -4.8% 2.5% -1.1% 54.0% 77.8%
Burnaby North $613,400 261.9 -0.2% 1.3% -0.5% 3.7% 6.4% 68.5% 88.6%
Burnaby South $659,500 264.8 0.5% -1.6% -2.2% 0.8% -0.7% 53.5% 80.9%
Coquitlam $531,700 291.8 0.5% 1.0% 0.6% 2.6% 10.2% 78.1% 111.0%
Ladner $534,800 249.7 2.3% 4.5% 6.6% 6.1% 4.4% 41.4% 67.7%
Maple Ridge $358,000 255.6 -1.2% -2.1% -0.5% 2.7% 12.5% 78.4% 77.3%
New Westminster $531,100 300.9 0.5% 0.4% 0.9% 3.9% 8.2% 75.7% 99.0%
North Vancouver $586,300 239.1 0.5% 2.0% 0.3% 7.3% 5.0% 55.1% 70.8%
Pitt Meadows $491,400 289.8 -1.0% -2.2% -0.9% 0.9% 7.9% 79.4% 98.2%
Port Coquitlam $470,200 281.2 1.6% 1.9% 1.3% 8.4% 13.5% 84.5% 102.2%
Port Moody $641,200 267.2 1.1% -2.3% -4.6% 2.3% 6.6% 74.0% 101.8%
Richmond $654,900 280.4 -0.5% 0.6% -0.1% 4.4% 9.2% 66.8% 83.0%
Squamish $519,400 256.0 5.3% 3.3% 6.7% 5.7% 20.4% 80.2% 129.2%
Tsawwassen $565,600 243.6 2.3% 4.7% 6.4% 5.7% 4.4% 39.8% 64.8%
Vancouver East $596,900 335.5 -0.7% 1.5% -0.9% 6.0% 3.2% 63.6% 93.1%
Vancouver West $782,200 253.8 -2.2% -0.9% -3.6% 3.6% -1.7% 40.9% 72.5%
West Vancouver $1,060,600 215.5 5.9% 8.0% 3.1% 3.9% -6.1% 42.9% 64.5%
Whistler $529,200 207.3 4.5% 5.7% 9.2% 7.5% 26.8% 78.4% 87.3%
HOW TO READ THE TABLE:
• Benchmark Price: Estimated sale price of a benchmark property. Benchmarks represent a typical property within each market.
• Price Index: Index numbers estimate the percentage change in price on typical and constant quality properties over time. All figures are based on past sales.
• x Month/Year Change %: Percentage change of index over a period of x month(s)/year(s)
In January 2005, the indexes are set to 100. *
Townhome properties are similar to attached properties, a category that was used in the previous MLSLink HPI, but do not included duplexes.
Lower Mainland includes areas serviced by both Real Estate Board of Greater Vancouver & Fraser Valley Real Estate Board.
The above info is deemed reliable, but is not guaranteed. All dollar amounts in CDN.
* MLS®, Multiple Listing Service®, and all related graphics are trademarks of The Canadian Real Estate Association 2 of 18